Meta posts solid Q1 results following March redundancies

Kalila Welch

April 27, 2023 11:06

Meta has reported its Q1 results for 2023, posting US$28.65 billion (A$43.35) in revenue for the three months to March 31, up 3% YoY.

While less than the 7% YoY growth posted in Q1 2022, the results marked a turnaround from the Facebook parent company’s revenue slump in each of the last three quarters of 2022. However, net income remained in decline, at US$5.71 billion (A$8.64), down 25% YoY.

Meta and other big tech struggled in 2022

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Kalila Welch

Kalila Welch joined the Mumbrella editorial team in November 2021. She took a brief career break in mid 2023 to complete her Masters of Journalism before returning to Mumbrella for a year.

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